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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
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 1MDQ+vV8EFc11PsDNQZLxg==

<SEC-DOCUMENT>0000919574-06-004021.txt : 20061005
<SEC-HEADER>0000919574-06-004021.hdr.sgml : 20061005
<ACCEPTANCE-DATETIME>20061005175928
ACCESSION NUMBER:		0000919574-06-004021
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20061003
FILED AS OF DATE:		20061005
DATE AS OF CHANGE:		20061005

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			FRIENDLY ICE CREAM CORP
		CENTRAL INDEX KEY:			0000039135
		STANDARD INDUSTRIAL CLASSIFICATION:	RETAIL-EATING PLACES [5812]
		IRS NUMBER:				042053130
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		1855 BOSTON ROAD
		CITY:			WILBRAHAM
		STATE:			MA
		ZIP:			01095
		BUSINESS PHONE:		4135432400

	MAIL ADDRESS:	
		STREET 1:		1855 BOSTON ROAD
		CITY:			WILBRAHAM
		STATE:			MA
		ZIP:			01095

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			BIGLARI, SARDAR
		CENTRAL INDEX KEY:			0001334430

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-13579
		FILM NUMBER:		061132071

	BUSINESS ADDRESS:	
		BUSINESS PHONE:		(210) 344-3400

	MAIL ADDRESS:	
		STREET 1:		9311 SAN PEDRO AVENUE, SUITE 1440
		CITY:			SAN ANTONIO
		STATE:			TX
		ZIP:			78216

	FORMER NAME:	
		FORMER CONFORMED NAME:	Biglari Sardar
		DATE OF NAME CHANGE:	20050727

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			BIGLARI CAPITAL CORP.
		CENTRAL INDEX KEY:			0001334429
		STATE OF INCORPORATION:			TX
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-13579
		FILM NUMBER:		061132072

	BUSINESS ADDRESS:	
		STREET 1:		9311 SAN PEDRO AVENUE, SUITE 1440
		CITY:			SAN ANTONIO
		STATE:			TX
		ZIP:			78216
		BUSINESS PHONE:		(210) 344-3400

	MAIL ADDRESS:	
		STREET 1:		9311 SAN PEDRO AVENUE, SUITE 1440
		CITY:			SAN ANTONIO
		STATE:			TX
		ZIP:			78216

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			LION FUND, L.P.
		CENTRAL INDEX KEY:			0001334426
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-13579
		FILM NUMBER:		061132073

	BUSINESS ADDRESS:	
		STREET 1:		9311 SAN PEDRO AVENUE, SUITE 1440
		CITY:			SAN ANTONIO
		STATE:			TX
		ZIP:			78216
		BUSINESS PHONE:		210-344-3400

	MAIL ADDRESS:	
		STREET 1:		9311 SAN PEDRO AVENUE, SUITE 1440
		CITY:			SAN ANTONIO
		STATE:			TX
		ZIP:			78216
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>p707512a_ex.xml
<DESCRIPTION>LION FUND/FRIENDLY ICE CREAM
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2006-10-03</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0000039135</issuerCik>
        <issuerName>FRIENDLY ICE CREAM CORP</issuerName>
        <issuerTradingSymbol>FRN</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001334426</rptOwnerCik>
            <rptOwnerName>LION FUND, L.P.</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>9311 SAN PEDRO AVENUE, SUITE 1440</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>SAN ANTONIO</rptOwnerCity>
            <rptOwnerState>TX</rptOwnerState>
            <rptOwnerZipCode>78216</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001334429</rptOwnerCik>
            <rptOwnerName>BIGLARI CAPITAL CORP.</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>9311 SAN PEDRO AVENUE, SUITE 1440</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>SAN ANTONIO</rptOwnerCity>
            <rptOwnerState>TX</rptOwnerState>
            <rptOwnerZipCode>78216</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001334430</rptOwnerCik>
            <rptOwnerName>BIGLARI, SARDAR</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>9311 SAN PEDRO AVENUE, SUITE 1440</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>SAN ANTONIO</rptOwnerCity>
            <rptOwnerState>TX</rptOwnerState>
            <rptOwnerZipCode>78216</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock, $.01 par value</value>
            </securityTitle>
            <transactionDate>
                <value>2006-10-03</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>P</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>11500</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>10.76</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>540670</value>
                    <footnoteId id="F1"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock, $.01 par value</value>
            </securityTitle>
            <transactionDate>
                <value>2006-10-03</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>P</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>0</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>540670</value>
                    <footnoteId id="F2"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By The Lion Fund, L.P.</value>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock, $.01 par value</value>
            </securityTitle>
            <transactionDate>
                <value>2006-10-04</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>P</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>5400</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>10.62</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>546070</value>
                    <footnoteId id="F1"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock, $.01 par value</value>
            </securityTitle>
            <transactionDate>
                <value>2006-10-04</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>P</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>0</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>546070</value>
                    <footnoteId id="F2"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By The Lion Fund, L.P.</value>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">These securities are owned by The Lion Fund, L.P., (the &quot;Lion Fund&quot;) which is a Reporting Person.</footnote>
        <footnote id="F2">The securities may be deemed to be beneficially owned by Biglari Capital Corp. (&quot;BCC&quot;), the general partner of the Lion Fund
 and Sardar Biglari, the Chairman and Chief Executive Officer of BCC.  Sardar Biglari and BCC each disclaim beneficial
 ownership in the securities reported on this Form 4 except to the extent of their pecuniary interest, if any, therein, and
 this report shall not be deemed to be an admission that either Sardar Biglari or BCC are the beneficial owners of such
 securities for purposes of Section 16 or for any other purpose.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>The Lion Fund, L.P., By: Biglari Capital Corp., its general partner, By:  /s/ Sardar Biglari, its Chairman and Chief Executive Officer</signatureName>
        <signatureDate>2006-10-05</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>Biglari Capital Corp., By: /s/  Sardar Biglari, its Chairman and Chief Executive Officer</signatureName>
        <signatureDate>2006-10-05</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>/s/ Sardar Biglari</signatureName>
        <signatureDate>2006-10-05</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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